Welcome!

News Feed Item

Rocketmiles Achieves Rocket Growth, Secures $6.5M in Series-A Financing to Simplify and Reward Travel Bookings

Company will use funds to accelerate customer acquisition and global expansion; adds Tripp Jones and Scott Hintz to the Board of Directors, and other expert advisors

CHICAGO and BOSTON, Jan. 29, 2014 /PRNewswire/ -- Rocketmiles (www.rocketmiles.com) today announced that is has raised another $6.5 million to fuel expansion in the U.S. and international markets.  The Series-A round was led by August Capital, with participation from existing investors Peterson Ventures, Link Ventures and Atlas Venture.  New investors include Chicago Ventures and Sam Yagan, CEO at Match.com.  

Launched less than a year ago, Rocketmiles is a travel-booking site that helps consumers get on vacation faster through a new class of miles incentives.  By booking hotels on the Rocketmiles site, customers typically earn 7,000 airline miles per booking, or about 10-20x the typical incentive. Meanwhile, hotel partners are highly motivated to partner with Rocketmiles because it is a unique vehicle to reach premium customers without using visible discounting schemes on deal sites, which can weaken their brand and pricing strategy.  

"Rocketmiles has developed an incredibly simple platform that shakes up the enormous, but somewhat sleepy, $1.1 trillion market for business travel.  The company takes the proven curated approach of a Hotel Tonight or Groupon, but swaps in virtual currencies for cash discounts that create a win-win for customers and hotels. Loyalty points and miles are prized by a large segment of business travelers and Rocketmiles offers unparalleled value to these customers," said Tripp Jones, partner at August Capital.  

"For 25 million people worldwide, loyalty programs enable that winter break to San Juan or personal adventure to New Zealand.  Our goal is to make that vacation happen faster," said Jay Hoffmann, CEO of Rocketmiles and former executive at United Mileage Plus and Groupon.  Based on our proprietary data, we know the average traveler stands to earn in excess of 80,000 extra miles per year if they use Rocketmiles for their hotel bookings."

New Board Members and Advisors

As part of the Series A financing, Rocketmiles added August Capital partner Tripp Jones to its Board, who brings significant operating experience and expertise in internet business models.  In addition, the company named travel industry entrepreneur Scott Hintz as its second outside member.   Hintz was a cofounder of TripIt, which was acquired in 2011 for $120 million.  Prior to TripIt he was SVP of Product at Hotwire and a management consultant specializing in travel at Accenture. "Even though the travel industry has been in a constant state of innovation over the past decade, there are still many areas ripe for disruption. The growth that Rocketmiles has achieved so far is reminiscent of Hotwire's early days."  

Rocketmiles also named Tom Botts, a hospitality veteran from Starwood and Denihan Hospitality, to its Advisory Council.  He joins Drew Patterson, former CEO at Jetsetter and current CEO of Room77.

About Rocketmiles

Rocketmiles launched in 2013 to allow frequent fliers to earn previously unheard of quantities of loyalty program miles and points when booking rooms at high-quality hotels.  For consumers, Rocketmiles makes saving up for incredible vacations faster and easier.  For hotels, Rocketmiles means being able to offer high-value customers inventory that would have otherwise gone unsold — without weakening the brand through public discounting.  Based in Chicago and Boston, and backed by top-tier strategic venture firms, the company is founded by travel and loyalty veterans Jay Hoffmann, Bjorn Larsen, and Kris Helenek.  For more information, visit www.rocketmiles.com and follow on Twitter @rocketmiles.

Additional Quotes

"...if you would prefer to earn miles every night you book a hotel, you should use Rocketmiles." --Chris Lopinto, Huffington Post, 1/3/14:  "Ten Ways to Earn Miles without Getting on a Plane."

"I am always looking to back great entrepreneurs providing great users experiences in huge markets. The Rocketmiles team has very quickly gained traction with both key industry players and its many loyal customers.  This is one of the most exciting investments I've made."  -- Sam Yagan, Co-founder of OkCupid, CEO of Match, and Rocketmiles investor.

"Rocketmiles is at the top of the class of innovative startups here in Chicago.  In the last year, we've watched them explode out of the gate like Apolo Ohno.  Jay Hoffman and the team are building a great company that also happens to follow in the lineage of established Chicago travel companies like Orbitz and United, and great Chicago eCommerce companies like Groupon."  -- Stuart Larkins, partner at Chicago Ventures.

"Rocketmiles is the best! An easy to use site that has competitive hotel prices and amazing mileage! I'm already looking forward to booking some trips all thanks to Rocketmiles.  We are planning a trip to Yosemite in the Fall, then for next year hope it will help fund a trip to Italy."   -Marie Guinto, a Rocketmiles customer.

"Rocketmiles is like Deer Antler spray for your frequent flyer account" -- Peter Jackson, a Rocketmiles customer.

SOURCE Rocketmiles

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"The reason Tier 1 companies are coming to us is we're able to narrow the gap where custom applications need to be built. They provide a lot of services, like IBM has Watson, and they provide a lot of hardware but how do you bring it all together? Bringing it all together they have to build custom applications and that's the niche that we are able to help them with," explained Peter Jung, Product Leader at Pulzze Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2,...